MLM Firm Fortune High-Tech Marketing (FHTM) Agrees To Refund Up To $1.3 Million To Texas Customers Amid Pyramid Allegations — But Don’t Delay If You’re Only Learning About The Agreement Today

Fortune High-Tech Marketing Inc. (FHTM), the Kentucky-based MLM firm that has caught the attention of multiple state regulators, has agreed to pay Texas customers up to $1.3 million in refunds, the office of Texas Attorney General Greg Abbott said.

But do not tarry if you’re a Texas resident and believe you were ripped off by the firm. Although Abbott’s office formally announced the refund program yesterday, the deadline for filing a claim is Nov. 28 — only 12 days from now.

Here is a PDF the claim form, which Abbott’s office says must be submitted to FHTM. In an “Assurance of Voluntary Compliance” between FHTM and Texas (signed in July), the address for the firm is listed as 880 Corporate Drive, Suite 300, Lexington, Kentucky 40503.

FHTM, according to the agreement, also consented to pay the attorney general’s investigative costs of $200,000.

The firm and its operators “deny that they have done anything wrong and insist that they have not violated any law,” according to the agreement.

Among the terms of the agreement was that FHTM shall “remove all references to FHTM ‘University’ from its marketing materials and website.”

FHTM has contacted Texas customers by email to let them know they might be eligible for refunds, Abbott’s office said. The most recent email was sent on Oct. 28, according to investigators.

“Fortune Hi-Tech’s customers complained that the defendant falsely represented the earnings they would achieve if they became one of the defendant’s independent representatives,” Abbott’s office said.

The settlement agreement announced yesterday “prohibits Fortune Hi-Tech from engaging in deceptive trade practices in the future and requires the defendant to refund up to $299 to each qualified Texas customer, up to a total of $1.3 million,” Abbott’s office said.

For more info, go here.

About the Author

4 Responses to “MLM Firm Fortune High-Tech Marketing (FHTM) Agrees To Refund Up To $1.3 Million To Texas Customers Amid Pyramid Allegations — But Don’t Delay If You’re Only Learning About The Agreement Today”

  1. MLM that falsly represent profits. I am floored. :)

      (Quote)

  2. This is a win for consumers…sort of, since they only ave a few weeks to stake their claim. Three States, three settlements, I wonder if anyone gets the picture yet? Not only that, but FHTM is still on the FTC Operation Empty Promise list.

      (Quote)

  3. Does anyone know if this MLM firm is associated with Ambit Energy?

      (Quote)

Leave a Reply